The United States introduced payroll taxes in 1935 under the Federal Insurance Contributions Act during the Great Depression to fund Social Security, which reduced the federal government's fiscal dependence on tariffs.

Authors

• Person: Not available Organization: Federal Reserve Bank of Dallas
  U.S. tariff outcomes dependent on trading partner responses

Sources

• U.S. tariff outcomes dependent on trading partner responses www.dallasfed.org Federal Reserve Bank of Dallas via serper

Referenced by nodes (3)

• U.S. location
• Great Depression event
• Social Security concept